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Kia Motors Slovakia has paid the highest income tax

18.12.2015

• Kia Motors Slovakia (Kia) has paid to the state budget more than it derived from it in a form of incentives after its arrival in Slovakia in 2004.
• Including property tax, custom duties and levies, Kia has reimbursed public funds three times more than it drew from it.

This December, the Financial Directorate awarded the best payers of income tax for the tax period of 2014. Total of 8 companies received the 2015 Merkur accolade for the highest paid income tax in individual regions of Slovakia. Kia Motors Slovakia, which contributed to the state budget with 103.95 million EUR income tax last year, took home the award of the Tax Office for Selected Taxpayers for the third time in a row. The award winners must not have had any outstanding debts on taxes, or the findings of tax audits exceeding 10,000 EUR.

"We wanted to set the criteria in the fair manner. The competition is established in a way that taxpayers from each region are evaluated individually while a separate award is given to one of the largest companies in Slovakia grouped under the Office for Selected Taxpayers. I consider this event important to the companies as this provides them with a feedback from the Financial Directorate that their tax discipline is noticed and valued,” said Frantisek Imrecze, President of the Financial Directorate.

So far, Kia Motors Slovakia has paid the corporate income tax worth 244.45 million EUR, which means it reimbursed the state budget more than it drew from in a form of state incentives after its arrival in Slovakia. After including the due income tax, tax of natural person, property tax, custom duties and levies, Kia has contributed to the state budget or local self-governing region 3-times higher amount of finances than drawn state incentives and tax releases.

"Our company has received this accolade for the third time in a row during the last three years. So far it confirms good economic results as well as responsible approach to fulfilling of the legal obligations. Through implemented CSR projects, the company acts beyond its scope,“ added Eek-Hee Lee, President and CEO of Kia Motors Slovakia.

Kia Motors Slovakia has supported many projects within the corporate philanthropy financially and in a form of non-financial donation during its operation in Slovakia. The plant reallocated directly or through its foundation found in Pontis Foundation over 4.45 mil. EUR to support projects in the area of safety on the roads, cycling paths building and improvement of environment. This sum includes means for kindergarten and primary school reconstruction in the Zilina region, Zilina Faculty hospital, park reconstruction in the Zilina region or support of disabled athletes. Due to this fact, Kia established its own Foundation Kia Motors Slovakia in 2013 in order to be the lifetime partner in automobiles and beyond as well as responsible citizen of region and community where it operates.